The Freight rates continue to trend upwards in the days before the celebration of Lunar New Year, a date that could mark a turning point in this trend as demand declines. In the current context it is Shipping companies are still adjusting their navigation capacities and speeds on the detours of their traffic from the Red Sea to the Cape of Good Hope.
Given these circumstances, Freightos' latest analysis assumes this The current upward spiral in freight rates could be reaching its peak. In this way the tariffs in the Services from Asia to the West Coast of the United States rose 15% in the last week and shipments from Asia to the North American East Coast also increased by 19%. In return the Freight rates for routes from Asia to Northern Europe have increased by 15% weekly. while the prices of the routes between Asia and the Mediterranean also grew by 25% this week.
The current panorama is also presented Shortage of empty containers in some Asian ports, such as Ningbo. However, the analysis assumes that the Port congestion is currently not a problem.
The above is provided that the main destination locations are in North America And Europe Are Adaptation of their skills is usually successful adapt to current demand needs.
In parallel, it appears that some shippers are delaying their orders while waiting for shipment After the Lunar New Year, freight trends are changing. Diversions from the sea are also being noted for some traffic Railway services and from Air freight.